a
Sniper's foster here. I hope you guys had a great weekend
I
Decided to make my third video, I'm gonna be talking about
Fibonacci retracements
That's why mr.. Fibonacci is here on the back the screen and
Before I start I would like to thank Rob Hutchins for suggesting I would make a video on this I
Always wanted to look into Fibonacci, but never really got into it and I figured hey
It's gonna be a it's probably gonna be interesting so in this video. I'm gonna be looking at
Three things first of all I was tripping on XI and what did we find out?
Second how does Fibonacci I will just repeat our sequences
How how they occur in real life and of course then the next part and last part will be how to incorporate this in trading?
So if every night, she was a mathematician and he lived around 1200 in Pisa in Italy been there once very nice place
also known for the Tower of Pisa
and
He came up with a
sequence of numbers now
When we go back to school or probably or preschool because we already knew about this before the problem is cool a little bit
And we'll know how to count and this is what we use daily we count zero one two we constantly add right. We only add
One step to the next one. That's how we
Have a constant factor here that creates the next number in the in line
So this is a you know our most common sequence. There are a sequences like if you look at time although time
Uses these numbers, but there's only 60 seconds in a minute and not a hundred and
There's only 24 hours in a day and not like 25 or 100 or 20, so
Time is based most likely on Russia is based on the number six
So people actually had this sequence. That's what were we talking about here in this video
so at first
You had nothing then we have something
Every Nazis thought well the next number is not going to be - it's going to be a total of these two
Combined for this one was this one
It's one because the wrong one actually is one
So the next number would be 1 + 1 which would be 2 and so on
So 3 makes up
It's made up out of 1 + 2 5 it's made up I was 2 & 3 so this entire sequence is the Fibonacci sequence
And you know you and I've been in school
We probably didn't really look at the sequence maybe
I'm not sure. I know my school didn't show me this and it's a lot of a sequence because it's kind of like
Exponential's going on go up
However if you look at the relationship between these like let's say you go from 3 to 5 how much more is that well we
divide 5 by 3
And we can do this with all these numbers okay?
so
This will go to 1.6 and specifically to 1.618 so the ratio here is
61.8%
Right
233
times 1.618, it's
377
Right is itself plus a factor. This is a factor six one eight
You don't have to go
Look at the ratio it grows you can also look at how it relates to the previous number
So you can say how does five or later eight?
You know back
What you see here, this is very important is this range will go to
0.618 right that is 61.8% this number right here
Give it a little color and these numbers
Basically state that there's a relationship between all of these numbers as well. Not just the way it grows
Poor shrinks because you can go negative
There's also a constant that relates it this one to the next one which is this number so
if you go to
Infinity and beyond this ratio will still be in place
of course here with 0 & 1 & 1 0
Divided by 1 is 0 and 1 if I bow I don't is 1 1 divided by 2 is 2 so these three numbers
That's where it starts and then the rest will just go to 0.6. Something and
These numbers are also important
If you finish your treatment you'll see in a minute
Now we can relate 8 to 21, right
They divided by 21 there we go. This is going to be the next range
So the number related to nothing next but the one that comes after that one just like you can
As you can see here you have 3 to 34, but you can also relate 13 to 55
And so on so these numbers are also numbers in front Bonacci retracement
And these are a constant how all of these numbers relate to each other
for thirty eight point two
and twenty three point 61 and
These green numbers are the numbers that are used in Fibonacci retracements and these
This I will show in a little bit what I will. Also show you which I get some coffee
Is if you look at the sequence and these numbers
These numbers will actually show something that we see all around in life were not really aware of
So we're gonna. Go here is zero. We're gonna start with 1 right, so this box is gonna be one by one
and
Next number will be one again right except for one on one together is going to be two
So this is going to be two by two
And
Two and one is three so there's gonna be three by three
And I guess once what's gonna happen here, we're gonna have a five by five
And what you can count can say five and three is eight three five is eight pages next number so
This is gonna be the next square they buy eight
And what's interesting about this I may feel this
Is that the surface of this square
But I've just selected is
61.8% of the currently selected
rectangle
Just like this square selected is sixty one percent of this
And so there's a constant fact because this will just go on if I select these you can see down here
it's really thirteen so here's going to be 13 where 13 I don't have a video wall to go all the way to infinity and
No screen could never comprehend that
But this is how these numbers relate to each other including
that
Factor of 6 to 1.8. Which is why some people refer to as the golden number or Phi pH I
Something else
To segue into this how do I recognize this how does this correlate with real life?
If you draw a quarter of a circle in here like water in here
Water in here and a quarter in there and a quarter in there and a quarter in there. You'll end up with a spiral
There we go
This is the spiral Fibonacci and this will go way out to infinity, and it will all go inwards two words infinity again
And this spiral correlates with a lot of things we haven't seen in in nature for instance this nautilus shell
It's a perfect formula to spiral
The shape of an egg correlates to it's not exactly about correlates to these two Fibonacci spirals
the way that vegetables like artichokes
Are made up or leaves?
our
The way it's billed out is it correlates with this spiral
You see the bottom of a pinecone here
Some flower you can draw these Fibonacci spirals in here
So it's kind of amazing how they're works out
And we have a surfer and the waves the bottom of the wave crest and the top they correlate with
Preventing
even if you look at the
spiraling arms of the galaxy they correlate with your Bonacci
and it's not always about the
Spiraling
Arm you can see right here
It's also about what I just showed you is like the way these surfaces relate to each other which to us
I guess unconsciously makes us either appreciate or not appreciate a certain design wow that's a nice building
And then you realize hey the architect used this
61.1%
U-238 point to the 23 point 61 they use all of that in the design and
To us I guess as human beings we like that
Now how does this relate to training well first of all well actually first of all a little copy?
Second of all
There's not really proof that there is a relationship between Fibonacci and trading however
there was
If you put in Fibonacci levels in here you can actually see that I guess by a coincidence
Those percentage levels that we've drawn out here are actually going to respond to resistance and support levels
So there's a correlation there as well
Okay, I opened
Ripple one of our favorite coins and
So the third option here will allow you to select the FIB retracement
And I'm just going to put right here
Got me a little seating
and
Okay
So when you start adding your Fibonacci retracement?
This is what you'll see
And you recognize the zero half and one has numbers in twenty three point six three eight eight point two sixty one point eight
The old one out here
Is seventy eight point six three you see seventy eight point six got nothing to do with Fibonacci
However if you take the square root sixty one point eight you'll get that
So it is a way to split this big box up into two levels
And this is where it's gonna get personal for most people because not everybody likes all
Lines in here there will be people that say well. The seventy eight point six is not real Fibonacci, so it's gotta go and
Then there were people who say well. I do not like to see half because have response to a support resistance level however
Usually it doesn't act like that so we're gonna get rid of it as well
Then some people will say well usually the thirty eight point two is the most important one and the twenty three point six is not
really that important, so they might remove that as well so it's going to be really personal I
Haven't personally found out what's gonna be very nice to to use
I will probably at least use this maybe I would doubt this not sure yet. I'm just going to show them all
And
So how does this work well first of all when you look at a?
Graph like this. Let's just I don't know if that one
What happens is?
In training everything goes up and down right so there is volatility and this is how people know she's being used
because Fibonacci as Naima said and how
My MCS mentor has told him if you want to look at the future. You need to look at the past
so phurba know she is a great example of something that learns from the past and gives you something for the future and
What I'm going to be doing here is I'm going to be any retracement and retracement is that we're going to start at the top
We're going to be at the bottom
And how are we gonna go back to the previous top from here that is what Fibonacci retracement is all about
and
When you start drawing you do not start drawing from the top of the camel
But the little part that sticks out right there to this part
down here
Right there
So this is our
Blush you could say right, and how are we gonna go back so if you click on?
The setup through Bonacci and you do the extended lines
There we go
You see the lines go into the future
First of all look at how we came to go here. How we got there so we went down here
It kind of stopped on this level then it break through downwards and got up, and I broke through again
It went straight through the six one eight straight to the point five and it kind of bounced off here
Went back up here
slightly to the sixth one and then it bounced off a 38 and it started trading between these two lines and
Then it dropped through all levels
now
What happens here is that you kind of need to?
Make a picture you need kind of like a support right to put on a track you want to know that what you put in
is like a support line and
As you can see here, it was kind of like
There's been a support here
Let's just put it in I
Guess you could say that this will be a support line
So you do want to have a
Certain support so that you know we're not going to go down even more because if you go down more it's fine
You just wait with your Fibonacci until it reaches support from which it can grow again. It's kind of important and
So here you can say well
We're gonna buy somewhere above the support
But we can say if we really drop down outside of the Fibonacci and we're gonna go down even more
You know you can say you can set the stop-loss here
Right so this is where you want to sell it really goes wrong
however you want to buy somewhere so
Once you trade in this level you could say well. It feels like their support here. It's safe to buy here, so we're gonna
Want to buy here a
buy order there
And then you work your way up you as you can see here. There was a little resistance and it broke through
Isn't it amazing?
This is a support resistance land, which is not really, but it is if that's awkward line the awkward thing
That is fibonacci these number C. Sequences. They come back in this trading
And so you break through now
Usually what happens is around 238th. There's going to be a form of resistance and it bounces off and then it breaks through
Now the fact that it breaks through doesn't mean at a halt as you can see here
we went down a little bit, and then we had our support here on the
23.6 line and
Now it's around this level
so
To show you this another one
Let's go to Manero Manero
was at a certain top right here, we're gonna put in front much e we're here at the top and
We correct it all the way down here
See right down there. Okay, and
There was a support level here right here. I'll just put this in here
Ephemeris gonna correct up and it bounced off 238, and this is something that I've heard from other traders
Is that usually there is a?
Correction to worse at 38, but then it bounces up back down, and if it then comes back up. It'll go through
So it'll go through and as you can see here the 50 was a slight resistance
But then it broke through and now there's resistance here at point six eight so what you could have done
You could have said hey if I break through 38 if I buy if I let's say that is our support
And we set a buy order here
In green
and you could have said well, and when I break through 38 I
Want to sell right here, and we're gonna sell what am I going to sell?
I'm gonna say all
25%
You don't have to but this is how you work work your way up to
Resistance and support levels you can say when I make it through
50 usually 50 is not a big support of a level or resistance that tends to go through there
But you can set your trades there you can also say well, I wonder if I'm breakthrough 61
I'm gonna trade another 25% and then when I go through this top level
I'm gonna do the other 50 and this is when I take my profits
So I
Want to recap this?
In here because the other day I saw my M do a live stream where he was trading and one of the indicators
He had honest I think I'm not sure but it seems like he had the photo davon
There we go
What does the auto-ship do?
well if we do a regular Fibonacci retracement in here and
We have a top here
And we have this bottom here right there. Well you guys see what I see I
Just said these levels and these levels
correspond
With what the program?
Or this indicator, that's been made by somebody autofit
It gives you automatically from a previous top to a previous bottom. What's going to be the next lines of?
support resistance to go back to that top and
So this could be a way for you if you constantly want to have this autofill on it's like
Where are you right now, and how is this related to previous?
tops and bottoms so
That's about it I
Think
The question is for you as a trader. Do you want to keep all these levels in here?
Do you want to get rid of the?
786 because it's not really Fibonacci level do we only get rid of half because it's not really support
Although sometimes it seems to be seems to be a little bit support or resistance
And so you have to personalize this for yourself, and you cannot use these in all situations
but
If you do you can lose it you know for your advantage
Well, I would like to close down this video with
Discord like to
Tell you one more time like I mean does every day and
That we have a lot of resources on this chord one of them is actually the helpful reads
You know money is a great book if you wanna know more about
How blockchain technology came to be and how you can like and trade
Is there are other books down there as well and of course we have our?
Other resources you can read
And we were trading one on one with all of the different
Patterns need to use trade, and there is a video suggestion tab
There's a whole bunch here and people keep adding to that and I'd like to have another video
So this video was a little longer, maybe a little bit more intermediate, but I think beginners will find this very useful as well
once again rough questions, thank you very much for
Suggesting this topic and all I gotta say is snipers out
You
You
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